Journalize the transactions: (1.) The firm borrowed $2,000 from the bank; a short-term note was signed. (2.)

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Question:

Journalize the transactions:

(1.) The firm borrowed $2,000 from the bank; a short-term note was signed.

(2.) Merchandise inventory costing $750 was purchased; cash of $200 was paid and the balance is due in 30 days.

(3.) Employee wages of $1,000 were accrued at the end of the month.

(4.) Merchandise that cost $350 was sold for $450 in cash.

(5.) This month's rent of $700 was paid.

(6.) Revenues from services during month totaled $6,500. Of this amount, $2,000 was received in cash and the balance is expected to be received within 30 days.

(7.) During the month, supplies were purchased at a cost of $520, and debited into the Supplies (asset) account. A total of $400 of supplies was used during the month.

(8.) Interest of $240 has been earned on a note receivable, but has not yet been received.